- GBP has started the year on a weak footing – a trend we expect to
continue throughout 2015. - Political uncertainty, a softening growth outlook and declining inflation
are likely to be the drivers of GBP underperformance. - Investment inflows to the UK, an important supportive factor for GBP
over the past two years, are already showing signs of slowing… - …leaving GBP vulnerable, especially given the UK’s current account
deficit. - We look to establish medium-term bearish GBP/USD strategies
targeting 1.40 initially, with potential towards our bear case scenario of
1.35. - Being bearish GBP/USD is one of our top trading ideas for 2015.
We look to sell GBP/USD rebounds into the 1.5300 area, with a stop at 1.5450,
targeting 1.40 initially.
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